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Guidance trickles on how to comply with tax reform rules

Tammy Whitehouse | August 14, 2018

More than half a year after the ground shifted beneath tax compliance processes under the Tax Cuts and Jobs Act, companies are still trying to steady themselves and understand what it means going forward.

The Internal Revenue Service is buzzing trying to develop the necessary regulatory guidance, especially on the international tax provisions that are most critical and most confusing to multinational public companies. “We understand they are working pretty long days to try to provide guidance,” says Joe Calianno, a tax partner and leader of the international tax practice at BDO.

The IRS issued a number of notices and then proposed regulations that give companies a fairly clear indication of what to expect under Section 965 of the Tax Cuts and Jobs Act,...

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